German regulators have approved rICOs as a way to bring on-chain investor protections to the controversial fundraising mechanism.
The new "Reversible ICO" has been approved by German regulators, bringing new on-chain investor protections to the controversial fundraising mechanism
rICOs allow investors to buy tokens gradually and rescind their support and funding at any time
The first rICO will raise funds for the upcoming creative focused LUKSO blockchain project Say "Hallo, Welt" to the new "reversible initial coin offering:" German regulators have effectively approved an innovative upgrade to the structure of ICOs—that promises a safer way to support investors—via the blockchain. Developed by Fabian Vogelsteller, the mind behind the original ERC-20 Ethereum standard, the rICO enables investors to reserve tokens during one phase of the offering, then buy them over time during a second phase. If for any reason investors decide they no longer want to support the project, they can release the remaining tokens they have reserved and have their corresponding ETH returned. Vogelsteller initially broached the idea for reversible ICOs at Devcon in 2018. Read More...